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Michelle Schaafsma

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Refinancing your home loan - West Pennant Hills, Cherrybrook, Beecroft, Carlingford, Castle Hill, Kellyville and Dural

Can refinancing help you? Could you save on interest payments or achieve other goals?

If you want to save money on your home loan, just ask our team to help! The first step is finding out if a better interest rate or features are available to you. As your Mortgage Choice brokers, we'll compare your current home loan against hundreds of others to see if we can get you a better deal.

Refinancing may help you repay your home loan sooner and access extra features and benefits.

      

What is refinancing?

‘Refinancing’ means replacing your current home loan with a new home loan from a different lender. Refinancing isn’t just about securing savings. It can also help you achieve important personal goals. Switching to a new loan can be a way to access home equity, providing low-cost funds to buy a new car, renovate your home, or invest in a property.

4 reasons why you may choose to refinance your home loan:

  • If you’re coming to the end of a fixed rate term, and you want a more reasonable interest rate or a more flexible home loan
  • To access the equity in your home to renovate, invest or travel
  • Obtain a new loan with a lower rate or more appropriate features
  • Consolidate your debts, such as personal loans, car loans or credit cards, into your mortgage to make it easier to manage your finances.

If you want to find out what your options may be, organise your free home loan health check with our team this week.

 

Frequently asked questions

  • How much equity do I have in my home?

The simple way to know how much equity you have in your home is by calculating the difference between the current property's value and the total remaining balance to pay off your mortgage.

  • How does equity work when buying a second home?

You may be able to use the available equity in your home as security instead of a usual cash deposit. 

  • What can equity be used for?

Other than buying another property, equity can also be used toward Home Improvements, Car Loans, a holiday and many other personal goals. At Home Loan interest rates that may be less expensive than using other forms of credit.

How can our team help you with refinancing?

  1. We will explain the costs associated with refinancing and take you through the process.
  2. Michelle and Jeff will help you organise any required pre-approval so you can shop with confidence 
  3. We will support you all the way and continue to be available after settlement to assist you with your loans.

When you’re ready, we will prepare all the paperwork and support you at every step to settlement. Reach out to our team of home loan experts by calling us on 0488 858 056 or book a return phone call here.

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